Bitcoin, always and again. Microstrategy, now renamed Strategycontinue to accumulate bitcoins like others accumulate stamps or postcards. With a regularity of metronome, Michael Saylor’s company announces about the purchase of several thousand BTCs every two months.
It has also just reoffended with the acquisition of 7,390 additional bitcoins for an amount of $ 765 million. But while everything seems to be going well, we learn that a collective appeal has just been deposited against the company and its leaders. Direction the United States to take stock of this case.
- Microstrategy, renamed Strategy, acquired 7,390 additional bitcoins for an amount of $ 765 million.
- A collective appeal was filed against Strategy and its managers for not having properly informed investors about the risks linked to the volatility of Bitcoin.
Microstrategy buys 7,390 additional BTC for $ 765 million
Today, May 19, the company Stratum announced via a press release buying 7,390 BTC For an average price of $ 103,500 per unit which represents a total investment of $ 764.9 million. In total, the company now holds 576 230 bitcoins Purchased for around 40.18 billion dollars at an average price of $ 69,726 per BTC. With a current course around $ 102,000, this represents an added value of more than $ 19 billion Or around 47% profits.
But while everything seems to be going well for the society of Michael Saylorwe learn in a document deposited with the Securities and Exchange Commission (DRY) that collective appeal was deposited against the company and its leaders. Executive President Michael Saylor, President and CEO Phong le as well as Executive vice-president and financial director Andrew Kang The dry are accused of not having properly informed investors about the nature of Bitcoin investments.
Company managers are accused of not having properly informed investors about the nature of bitcoin investments
Here is what we can read in the official document ::
« The defendants would have made false and/or deceptive declarations and/or omitted to disclose information concerning the early profitability of our investment strategy focused on Bitcoin and our cash operations, as well as the various risks associated with the volatility of Bitcoin. »»
In other words, the complainants criticize Strategy for having underestimated risks related to market volatility And to have minimized potential losses if the price of Bitcoin were to decrease. For the experienced observer, it may seem obvious, but obviously not for everyone!
If this affair was to continue before the courts, it could be jurisprudence and slow down the ardor of all the companies that plan to follow the strategy of Strategy. And there are many! We are thinking in particular of Metaplanet in Japan or Asiastrategy in Hong Kong which recently announced Bitcoin accumulation plans.